Manufacturers Hanover Corp.

October 16, 1986|By Deanne Brandon

HIGHER EARNINGS. Manufacturers Hanover Corp. Wednesday reported a 5 percent increase in third-quarter profit. The company, whose principal subsidiary is the fourth-largest U.S. bank, said earnings rose to $105.8 million from $100.5 million a year earlier. Much of the third-quarter gain came from trading profits, which were up 153 percent from a year earlier to $23.8 million. Revenue from foreign-exchange trading rose 40 percent to $14.7 million.